18. Advance Systems, Inc. had 840,000 shares of common stock outstanding on January 1, 2006, and repurchased 75,000 shares on June 1, 2006. Net income for the year ended December 31, 2006, was $2,662,625, and preferred stock dividends for the year amounted to $35,000. The earnings per share for 2006 were:

A) $3.30

B) $3.34

C) $3.48

D) $3.53

Answer: A Difficulty: Easy